Recent figures show that the median rent for a 1 bedroom flat in London is more than £1000 a month. Oh. my. Lakshmi. It now costs an average of £2,583 per month to rent a property in central London-compare this to £663 in the north of England. But trust me, you do NOT want to live up north, I can say this objectively even though I live in the south. Trust me. In brief, London has become one of he most expensive cities in the world to rent a home. This has prompted politicians here to call for New York-style controls on landlords. Read more about that here…
And not surprisingly, the rising cost of actually BUYING a home has had a direct impact on the private rented sector as there are 1.4 million more rented properties than there was in 2008. The obvious imbalance between supply and demand has prompted surveyors to forecast sizeable/massive house prices and rental rises over the next 12 months.
As for me, I am happy to report that I live in a tree house which belongs to my neighbour. I forage for nuts and berries and will occasionally go to Starbucks for a cup of a tea. Honest.